2910-2996 Court St - Retail FOR SALE


Pekin, IL 61554
$4,364,000 USD
630-430-2368
2910-2996 Court St, Pekin, IL for Sale
$4,364,000 USD
Retail - FOR SALE
1/8
null | 9.23% Cap Rate

2910-2996 Court St
Pekin, IL 61554


HIGHLIGHTS

  • Significant Upside Potential
  • Attractive Rent Increases
  • Operating Expense Protection
  • Strategic Retail Location
  • High Traffic Counts
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the fee simple interest in Sunset Plaza located at 2910-2996 Court Street in Pekin, Illinois (the “Property”). The plaza contains twenty-eight (28) suites and is 74.00% leased to a mix of regional and local retailers and contains 59,982 square feet spread over two buildings on a 5.45-acre parcel. The majority of the leases call for the tenants to reimburse their pro-rata share of real estate taxes, insurance and operating expenses and provide attractive rent increases in the primary lease terms and renewal options (if applicable). Sunset Plaza occupies a prime location at the signalized intersection of Valle Vista Boulevard and Court Street, the area’s primary commercial and commuter corridor. The Property offers excellent visibility, frontage, and access enhancing its presence within the established trade area. The Property is surrounded by national retailers and restaurants that drive traffic to the area and is seconds from schools, dense residential neighborhoods and several large employers providing a captive and built-in customer base. In addition, Sunset Plaza offers efficient regional connectivity with quick access to IL Routes 9, 29 and 98, and US Route 24, supporting ease of travel throughout Pekin and the broader region, and providing quick access to Downtown Peoria, 12 miles to the north.

FOR SALE DETAILS

PRICE

$4,364,000 USD

PRICE/SF

$67 USD /SF

CAP RATE

9.23%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunset Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.45 AC

LAND SF

237,402 SF

ZONING

-

APN/PARCEL ID

10-10-12-216-020

ASK ABOUT THIS PROPERTY

Mark HeideckeHorvath & TremblayMore Info
630-430-2368

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Mark HeideckeHorvath & TremblayMore Info
630-430-2368

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.